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. .1�R , . .�:....�:....r�,..�..iipt'K,�1(, -- - —. _ _ '•i;__,f.— _ �--
<br /> � ��N1iYlf�� :tkPr` . ..i � ..�i'_..
<br /> . ,.� n������. ^ _ , _... = �
<br /> . g�i�-- 10266 3
<br /> ' `'�. when duo t6e prlacipaf ot.�nd intaci�oa.the debt
<br /> �� 1.Ra1�1 sf�eMe1N1�INqnN�N IaN CY�/e.BoROwa�b�U pnY
<br /> rrid�pad by tl�e Note snd W�charRa due uada tAe Note.
<br /> , �„�,.:..,t;::..; , �M�� d T�.1���p��C��.Sorrower shall include in ach monthlY psyment.to�ether with --
<br /> . , � '� " ��prlaci{�I laterat a wt ionh in thc Note�t►d anY late chu�a��o��u on the�PropertY.�and(�P��efor
<br /> � `t'ii�-�t' levbd or to be kvled+�i���ProPMY�(bl k�uhold Pq'me
<br /> ,��:. . ..... iosutanoe a9uirod by Par+ynPh 4. Q.-----
<br /> • ;. �c�� • � . B�ch atoathtf�insWlment for item�(a).(b)sad l�)�hal)Wupl one-twelfth of tde annual amounts,as re�sombly atimsted by �_,._---_--- -- _� _
<br /> ;� ,� �,qula,plu��n�mount sutficieat lo maintdn�n RddW°n�l ba�a�°°f not more Ih�u►one•sixth oi the estimsted aaount�.The
<br /> m
<br /> .,� full�anwl aawuat for e�cb item shall be�ccumul�ud by���to�pay ite�u(ajalb)d�u►d(c)betore�hey fbecome delinquent. ---
<br /> boowne delinquant.I.enda shdl hold the ruaounu colkcted °°�"
<br /> ' ;i�[,. , , �t�t�ny dme the toul of the payment�held by Lender for items(a),(b).and(c),toe�h���h the Puwre moMbly payments ��_,..f,J__
<br /> .��; '� for�ucb items p�Y�ble to I.rnder prla�lo the due dua ot sucehnitems`he ads b�rt►o�er t�h��o'�nde hpll eithea t�efund the �` �----•-
<br /> L. ,,- .• ., • P�Ymenta roquirod to pay�ueh(tem�when due,�nd if parin 6:L �-�-�----�..��--.
<br /> °r":=..�• •. , exass ovar one-sfuth of tha atimated pRymenu or cre�it the ezass ova one-sintd of che estimated WYments to:ubsequent .. : ..�: -
<br />.....k• • ".ir, , =..:.�c:�':,
<br /> yme�uta by go�ower. at the option oi Borrowec.IP tlie total of the payments made by Borrmker for item(a),(b),or(c►Is
<br /> u
<br /> , �r,. , �ipr�a�h��da�tp,e6itan�becWOhma duethen Bonower�haU paY to Lender aay amount ncce�ary to m�ke np tAe deticiency on or _
<br /> ' , , •; +�'r�. � � As used ia Ws Savrlty taauument,••Secrct�ry"me�ns the Secretary oi Housina and Urban Develapmem vr his or her
<br /> . - � daiyooe.Most SceuritY lastnunent:in�u�ed by Ihe SecretuY�ue insured under pro4rAms which tequire ndvance�wYmeat oP the l, �„4;;:
<br /> 4 •���tL•:
<br /> , '•. • • . . m��t�e�nsyrance Pranium.lf thls Secudty Imtrument is or was inaurecl under a prognure whioh did not require advance T�,��==— :c
<br /> _ p�ymeat oP the eatire mort�e i�uuraace premlum.then ach aanth➢�r I�Y�ent shaU atw include either:(i)an in�tallment ai tde ,,,�;:;��--,
<br /> .,;.
<br /> - • �nnual mat�e insurance praaium to be pald by Lender to the SeczesafY,ar(ii)p momhly chuge iastead of a mongage , j�•;:•',��?
<br /> �prcmium it tlds Secu�iry Instrument b held by the Secretary.'Each moathly innallment of the mort4aQe insunare rf,:��;_;.��-�— -,�:::
<br /> � "6�.t ..
<br /> ,, �� � • ° p�nium ah�J1 be�u�n�mouat sufficimt lo occumWata the fuU at�aua7 mongage in:uraaa preraium with Lender one month ;�,�•�r�f f�_"t:��nu�7
<br /> 'u 1 , .�.:;,nr,,=..--—..
<br /> � priar to the dste the fuU annual monQn��insurance premium is due to�he Secretary,or if this 3ecudcy Instrument ia held by the V
<br /> . na
<br /> ' �. ��,��b�p�y�Q a1�U be i�an amount eQwl to oneawelfrh of one-half pereent of tfie outstandin�princlpa1 ;,,�r;1,�{ __
<br /> '���' • b�l�ace due on the Nota � "
<br /> . � , � ,
<br /> �f Borrower tenden tb Lender the fuU payment of all suau secured by ihis SecudtY�natrum��►�B°n°w'«�$e�ount sfia11 be 1.�?:,,._r�„_
<br /> " ,�," � credited with the balance rcmainina for aU imtaNmenta for itema(a), (b)and(c)and aay mortg+i¢e insurana premium �;,,..�ti+�;,_y�n
<br /> � huWlment th�t Lender ha not become obUQated to pay to the Secretary.and l.endrr shall promptl��wer'�i yaccount shaU be ._.�• :�-±�`
<br /> �� � � gonower,Immediately prfor to a foreclosure wle of the Property or its acquisltion by Lender. ".._����,
<br /> . . �di�ed with aay balance remaininQ for all instollmentt Por i[ems(a),(b)and(c). K
<br /> +�'.�
<br /> .+�� : ' 3.AppWstlo�ot P�T��U•�1 PaY���under Para�raPhe 1 and 2 shall be applted by Lrnder as foltowa: :
<br /> -.:17�•. . �g�,���he mortgage in=uraece Prcmium to be paid by L.enda to the Secraary oT to the monthly charQe by the Sceretary + ,���:';� _ +:���
<br /> �:iti�`;', .` . ' ��-�F�y .�' (nstead ot lhe moathly mortQa�e in:urance premium, unieu Borrowcr pa+d il►e enrir�mortg�'•e iASnsaact prtmi�im when this rr �;! �'
<br /> °;1;•d: ;� .�r�•�:;s�:�'`�i Secudty lmtrument w�s{gned: . °
<br /> �);% • i��'�,;!�'�,.; SECONQ.to Qay Wuca,special acsasment:,leasehold payments or around rent�.and flre.llood and other hazac d i n surance � � A
<br /> • :% ;r:•.�,�: f.,, roquired• 1 <`t�'� �
<br /> •' �fr��r„.; 1� premiums�as . .t.
<br /> '. '�; 1 ',?�!•'"'�;.`�," �� to iaterat due under the Note; " • �qf .- -._
<br /> ..it "`"�;:��:;'.� FOUR ,y.to amorti�tlon of the principal of the Note: �.�'��:�:- .
<br /> ,�.t � 'i%::f� -'^��
<br /> .�;.
<br /> • '':�ri . • ' F��,to l ate chArsa due under the Note. ���'�
<br /> , / .,: . �-::X�
<br /> �,FYre�Flood�ad Otber H�s�d Iwanuce•Bo�rower:haU inaure all improvements on the Property.whether now in exiatence
<br />� � , or subaequently erected,aaainat anY haz�uds,cvu�lda,and contingencia,includin�eti ft,uo�hi�ower sha ialso in urre all �
<br /> � � °� Thia insurance�h�ll be maintained in the amounu and for the pedods that I.en eq , �
<br /> �' improvementa on the Property.whether now in e�clstence or eubsequently erected,a8einst loss by floods to the extent requiral by � �
<br />,;;�• ' ���` the SecretarY•All insurance shall be carcied wilh compania approved by Lender.The inaurance policies and any renewals shall ` ..�;�• _..+.�.:-
<br /> .�F'i.',.•- :�� F ...-_._�
<br /> r,.,., ,. . ,t,.� be held by L.ender and ahaU include loas payable clauses in favor ot,and ln a form acceptable to,l.ender. ::� W �
<br /> .�,���•,�..:: � - �-.�
<br /> �•,;:�s ,• _ ���• In the event of lass, Bonower ahall Blve Lender immediate notice by mall.Lender may moke proof ent for�such loss directlyp o � "1`,:;;,,
<br /> �' :'• ', ;i�;�.' ly by Horrower.Each insurance company concemed Is hereby authoriud and dlrected to make paym �.__ ,.-
<br /> � '��'.�� r�''""" Lender,ins�a�d ot to Borrower and to Lender joindy.AU or any part of the insurance proceeds mry be app4ed by Lender,at its t,�°•�?"� _-4.�-;
<br /> � t` • P.'�,!'.�.�
<br /> : `ys•:',:'',t;��,•1�:,;r � option, elther(+►)to the reducdon of the indebtedness under ihe Note and this Security Ins�rument, fint to eny delinquent � �.,�•,�•,. ;�n:-�..�
<br /> '��• t����:. . .. amouata applied in the order in Parograph 3,and then to prep�yment of principal,or(b)to the ratoradon or repair of the
<br /> t,��'::�; (�}';,, " ' domaBed property.Any applicadon of the procceds to the pdeclpal shall not eatend or postpone the due date of the monthly .
<br /> , �,,��•=:t d' ,�.. - psyments whlch are roferred to in Paragraph 2,or change the amount of such payments.Any excess insurance proceeds over an :r:•r*"`-
<br /> •��'•'�'� ? ' � '• •� amount nquired to pay dl outstandinQ indebtednas under the Note�nd this Secudty In:trumenc shall be paid to t'he entity IeQal• ; ;; �,,
<br /> ,, �j;'� . ;��'�;�',:•:; �
<br /> . ;,• G : (,;,;-�:',�. ly entitled thercto. ..
<br />:��!���;•'�����•j' � �� � In the event of foreclosure of thia Securiry Inurument or other tranafer of tide to the Property that extinguishes the in• r . ;�,�� :�:.���'
<br /> •:.�:,?�..;, �, f:;�c,,";�';. '
<br /> .;; ,:.;.�; ' . •+".''�" debtednas.a��rie,t�b tft�e and interat of Borrower in and to in�urance policia in force shall pa4s ro the purch4ser. i `
<br /> ' •r�'r }�•: ,s?�;.y+;,t�f�,.•. . S.pes�enado� asd Mdateurce ot tMe PropeAy.Leuehuld�• Borrower shaU not commit waste o�datroy,damaee or
<br /> ����;`� ::�::f,,;�• �,. substat�tt�Uy change the Propeny or Wlow the Propeny to detedorete.reasonable wear and tear eacepted.Lender may inspect y
<br /> ' " ��`:�`�'�'.� " ' the property if the property Is vac�nt or abandoned or the loan is in default Lender may iAke reaconable action to protect and �i„
<br /> �''��+��,; prasetve such vacant or abandoned property.lf thls Security In�trument is on a leauhoid,Borrower shall comply with the provi• , ,:t,,. _ '.
<br /> ,.��; aions of the lease. If Bortower acquires fee tilk to�he Property,the teasehold and ice aitle shaU not be merQed unless Lender ,,,,.�; .;; ..
<br /> �'� + � auees to the merger in writina. � � �
<br />' �.:.,�., �,C��es to Borrower�ad ProtaUon ot Lender's RIR6ts ia lbe PropertY.Barcower shall pay all Bovernmental or municipal
<br /> cfuuga,flna and impoa{tfons that are not included in Pa�agrapfi 2.Bor�ower shell pay�hese obllgations on time directly�o the
<br /> entity which fs owed the paymenl. If failure to pay would adversely affect Lender's interest i�the Prapeny,upon Lender's re•
<br /> � quat Bonower sh�ll promptly furnish to Lender receip[s e.iJencing these pnymenls.
<br /> If Borrower fails to make these payments or the p�yrnents required by Paragraph 2,or iails tu perform any other covenants and
<br /> agreementa contained in thia 5ecurity Instrument,or there is a legal proceedfng that may significnntly affect Lender's ri4hts in
<br /> � the Propeny(tuch as a proceeding in bankruptcy,for condemnation or to enforce laws or regulntlonsl,then Lendcr muy do und
<br /> pay whatever fs necessarY to protect the value of the Propeny and Lender's rights in the Propeny,including payment of taxes, . _
<br /> ti.....�a����.■nre and other items mentioned In Paragraph 2.
<br /> Any anoums disbursed by lender under�his Paragraph shr�ll become an additionnl dcbt o(Borrower ana oe secureai or ii���
<br /> Security Instrument. These amoun�s shall bear interest trom the date of diabursement,et the Note rnte,and nt the option oP
<br /> Lende�,shall bc immedfately due nnd payable.
<br /> ,. 7.Co�demndo�. The proceeds of any+�wud ur�luim tor damages,direct or consequential.in connecuon with any condem• .
<br /> natbn or other talcing of any put of the Property,or for conveyanee in place oF condemnation,are herehy assigned and shall be
<br /> paid to Lender to the eatent ut the full amounl of the indebtedness thnt remnins unpuid under the Ivote and�his Security Inseru-
<br /> ' ment.Lender shnU apply such proceeds tu the reductfon of the indebtedncss under the Note and this 5ecu�ity Instrumen¢,fisst to
<br /> ' any delinquent amounts applfed{n the order provided in PangraR6 l.aed Ihen to prepayment of prmceral.Any applicauon of
<br /> the proeeeds to the priocipal shall not exteod or postpone tht due date oP the monthly payments, ai�ich are rcfetred to in
<br /> � • puaQraph 2,or chanie the amount of such paYmenu.M!r eacess ptoceeds over an�moun�requued to pay all outstandmg in•
<br /> � debledotss uader the Note aad this SecuntY Inututnen[shall be Daid to 1he tatity IeaalfY entitled thereto.
<br /> � !.Faw.Lrnder rnay cotkct fees and char4es outhorized by the SecretarY•
<br /> PaRe!o(� �
<br />
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